Questions to Ask Your Fiancé Before You Tie the Knot (Part 1) | Quicken Loans


– I’m just like. (laughter) – I have loved, – And also, um, we only found out that I was better at paying the bills because, – The water bill incident
of 20, 2008, yeah? – I’m Catherine Alford. I’m a family finance expert and financial writer dedicated to helping you live your best financial life. I am here with my husband of 8 years and we are going to help you guys by talking about what we
wish we would have known about money before we got married. – What’s the first thing
that comes to mind, like gee I wish I would have known this. Or should have asked.
– The first thing – The first thing that
comes to mind for me would be just 100 percent full disclosure. And I think just because
of the nature of your job, with being so educated about money and educating other people about money, I think we talk about money. We talk about our debt, I constantly know, like you know you have
your spreadsheets and, – Today, you have accrued $70 of interest. Have a nice one. – Money is taboo in a lot of, for a lot of relationships. It’s not always comfortable to talk about. But if you just get it out there, have the conversation, then it’s done. You’re done with it
– That’s anything – with marriage, the more
uncomfortable it is to talk about, the more important it
probably is to talk about. I think one question that’s good to ask before you get married is if you’re going to have
joint or separate bank accounts because there are a lot
of different opinions from many different financial experts on which is better. – Right. When we got married, it was like do we want to put our tiny bit of money in
two accounts or one account? – We were like, hey, let’s
join together our $200 each and make a nice $400 account! It was like no big deal, but I think it really
depends on the couple, the relationship, how far along they are
in the relationship, what their comfort level is, because a lot of people like
having that independence. So I think another really
important thing to talk about before you get married is how you’re going to handle debt. It’s extremely common for people to have student loan debt these days, and credit card debt too, and even if your future spouse
knows about the debt you have or knows what your student loan number is, you actually have to make a plan on how you’re going to handle that. And we change our plan on how we’re going to play back the debt. Is that what you were gonna say?
– I was just about to say the plan can be malleable, it doesn’t have to be something that’s set in stone.
– Five years. – Eat ramen for five years! – ‘Cause things change.
– ‘Cause we could. – We could pay it back really fast. – Because halfway through medical school, what did we decide to do? We were like let’s have a kid, and then we had two of them,
– Yes. – And so, you know, these are things that you can’t
– Best laid plans. – Yeah. Yeah no.
– Surprise! (cheerful music)

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